News: Social game valuations are "crazy," says Bigpoint CEO
While social game companies are over-valued, online publisher Bigpoint is eyeing traditional console makers for acquisition as they represent better value and are struggling in their own market.
Speaking to Industry.biz today, CEO Heiko Hubertz said that deals like Disney’s $763 million buyout of Playdom are “crazy” and he doesn’t expect valuations to drop to realistic levels for at least another year.
“There are many companies that have paid crazy valuations, just look at the Disney and Playdom acquisition, that was a crazy valuation from my point of view,” said Hubertz.
<a href="http://www.industry.biz/articles/2010-09-01-social-game-valuations-are-crazy-says-bigpoint-ceo”>
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